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The Circular Money Flows Behind the AI Boom
Original: Who’s paying whom? The circular money machine behind the AI boom # AI # alphabet # anthropic # artificialintelligence #
Commentary is spotlighting the web of circular deals propping up the AI boom, where chipmakers, cloud giants and AI labs invest in one another while buying each other's products. Nvidia backs companies that buy its chips; Alphabet and other hyperscalers fund labs like Anthropic and OpenAI that spend the money back on cloud and hardware. Critics say the arrangement inflates revenues and echoes dot-com accounting, warning the machine could seize up if growth slows.
Why now: Growing concern that interlocking investments among AI firms may be masking fragile economics in a market carrying enormous valuations.
NvidiaAlphabetOpenAIAnthropicClaude
Evidence
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